Republic Services (NYSE:RSG) Cut to Buy at StockNews.com

StockNews.com lowered shares of Republic Services (NYSE:RSG) from a strong-buy rating to a buy rating in a research note released on Thursday morning.

Several other brokerages also recently issued reports on RSG. Raymond James reduced their price target on shares of Republic Services from $219.00 to $214.00 and set an outperform rating for the company in a report on Thursday, July 25th. Robert W. Baird upped their price objective on shares of Republic Services from $208.00 to $210.00 and gave the stock a neutral rating in a report on Thursday, July 25th. CIBC upped their price objective on shares of Republic Services from $196.00 to $208.00 and gave the stock a neutral rating in a report on Thursday, July 25th. Scotiabank upped their price objective on shares of Republic Services from $211.00 to $213.00 and gave the stock a sector perform rating in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group upped their price objective on shares of Republic Services from $209.00 to $230.00 and gave the stock a buy rating in a report on Tuesday, April 16th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Republic Services has a consensus rating of Moderate Buy and an average price target of $211.69.

Republic Services Stock Performance

Shares of RSG opened at $200.00 on Thursday. Republic Services has a 1 year low of $140.23 and a 1 year high of $206.54. The company has a market cap of $62.81 billion, a price-to-earnings ratio of 35.09, a price-to-earnings-growth ratio of 3.18 and a beta of 0.69. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a fifty day moving average of $193.12 and a 200-day moving average of $187.06.

Republic Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.16%. The ex-dividend date is Wednesday, October 2nd. This is an increase from Republic Services’s previous quarterly dividend of $0.54. Republic Services’s payout ratio is presently 37.54%.

Insiders Place Their Bets

In other Republic Services news, CMO Amanda Hodges sold 6,500 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the sale, the chief marketing officer now owns 6,831 shares in the company, valued at approximately $1,270,702.62. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Republic Services news, CMO Amanda Hodges sold 6,500 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the sale, the chief marketing officer now owns 6,831 shares in the company, valued at approximately $1,270,702.62. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Katharine Weymouth acquired 540 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were bought at an average price of $185.26 per share, for a total transaction of $100,040.40. Following the acquisition, the director now owns 540 shares in the company, valued at approximately $100,040.40. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Republic Services

Large investors have recently made changes to their positions in the business. YHB Investment Advisors Inc. acquired a new position in shares of Republic Services in the 1st quarter valued at about $29,000. EntryPoint Capital LLC acquired a new position in shares of Republic Services in the 1st quarter valued at about $29,000. Bogart Wealth LLC acquired a new position in shares of Republic Services in the 4th quarter valued at about $30,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Republic Services in the 4th quarter valued at about $34,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of Republic Services by 3,014.3% in the 4th quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 211 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

About Republic Services

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.